Student Loan Forgiveness vs PPP Loan – Fair Comparison?
On Thursday, August 25 on Twitter, the White House called out the hypocrisy of six Republican Paycheck Protection Program (PPP) recipients who had criticized President Biden’s Student Loan Forgiveness Program as being unfair to other borrowers and taxpayers. The Student Loan Forgiveness Program would forgive up to $20,000 to PELL Grant recipients and up to $10,000 to borrowers who make less than $125,000 per year along with a pause in payments through the end of the year. The PPP was part of the CARES package intended to help businesses during the COVID-19 lockdown by keeping their people employed and to keep their business from shuttering. Two significant differences in the two programs are that PPP loans were intended to be forgiven if they met the terms of the agreement - they kept the employees - and the PPP loans were approved by Congress. There were numerous sources of the story, but I have included one from Business Insider reporting the White House callout of Congresspeop...
